Conde Nast Announces Senior Leadership Changes and Plans for Growth
(Press Release) New York, July 23, 2010 — Condé Nast is charting a new strategic course as a consumer-centric media and entertainment company in order to accelerate growth, it was announced today by Charles H. Townsend, Chief Executive Officer, of Condé Nast. The company will be realigned to better embrace and harness developing technology; broaden consumer touch points; and create contemporary value propositions for advertisers. To achieve these strategic priorities, several senior leadership changes were announced.
Mr. Townsend will remain C.E.O., with continued responsibility for the entire company, reporting to S.I. Newhouse, Jr., Chairman. He has appointed Robert A. Sauerberg as President of Condé Nast. Mr. Sauerberg, formerly Group President, Consumer Marketing, will work with Mr. Townsend in overseeing the company's business activities, but his primary responsibility will be to move the company to a new business model focused around digital connectivity, technology development, and consumer insight. He will integrate corporate resources to support brand development initiatives and deliver maximum value to consumers, advertisers and employees.
"The historical priorities that have served our company so well-great content, best-in-class magazines, key client relationships-remain the cornerstone of what we do, but we need to move beyond the magazine," said Mr. Townsend. "The set of strategic course changes being put in motion today will reorient our organization to thrive in this new world of opportunity, assuring the brightest future for Condé Nast."
"Having worked closely with Chuck over the last two decades, I'm looking forward to implementing this growth agenda together," said Mr. Sauerberg. "These new strategies will enhance our innovation, extend the reach of our content and offerings, and improve our speed-to-market."
With the increased financial management necessary for a growing breadth of products and services, John Bellando will assume the Chief Financial Officer title in addition to his current responsibilities as Chief Operating Officer. Mr. Bellando will oversee the corporate fiduciary responsibilities for Condé Nast, Fairchild Fashion Group and Parade.